You have a big challenge on your hands. It’s bigger than the dirty data sitting in your CRM, or the less-than-desirable response rates from your latest marketing campaign.
Your buyers now expect you to provide them with a one-to-one customer experience, not a one-to-many.
Volume-based sales and marketing tactics are obsolete. You must instead be targeted in your approach. You need to understand every buyer’s challenge, drive meaningful engagement, connect at the right moment, and deliver a consultative experience.
But chances are you aren’t equipped to deliver this level of precision.
The vast majority of companies struggle to successfully implement targeted go-to-market strategies at scale. It’s a major driver behind the explosion of sales and marketing technology over the last five years. Account-based marketing, sales acceleration, and predictive technology all seek to enable targeted go-to-market efforts.
Recent research from the CMO Council shows that when asked specifically about the gap between go-to-market strategy and execution, marketers point to two key issues: fractured execution systems and siloed customer data. The majority of marketers (70 percent) are not able to manage the pace of the evolution of technology. Even worse, only three percent of companies say they are totally connected and aligned across all sales and marketing systems, with data, metrics and insights flowing seamlessly across all technology platforms. Ouch!
Feeling discouraged and overwhelmed? You’re not alone, and we want to help.
After speaking with countless companies who are struggling with this same challenge, we’ve gathered lots of data points and tested several strategies. We’ve leveraged our findings to create what we call the Go-to-Market Maturity Model.
The Go-to-Market Maturity Model can be broken down into five core stages:
We hear from most companies that they fall within the Fragmented and Automated stages. That means there’s plenty of opportunity to outpace your competition, and now is the time to get started!
In order to move to more mature stages, companies have seen success by implementing these three strategies:
- Get sales and marketing aligned on the same data strategy. Data is the foundation of all sales and marketing initiatives. Without shared data, you have no consistent view of the customer, and your sales and marketing programs are guaranteed to be fragmented. Check out our ebook, 5 Steps to Improving Data Integrity, for some data strategy tips and techniques.
- Find your ideal target market. Figure out who your ideal target market is by defining the key criteria of your most profitable customers, or “ideal customer profile” (ICP). Then work together to develop strategic ways to reach that specific ICP. Our ebook, 3 Steps to Modernize Your Go-to-Market Approach, is a great place to start.
- Build a culture of alignment, and tackle your go-to-market challenges together. Account-based marketing is a great forcing function for alignment. When done right, it requires sales and marketing to come together to agree on the same targets and orchestrate outreach strategies in lockstep. Our webinar, Using Account-Based Strategies to Unite Sales & Marketing, shares some helpful, proven tactics.
Have you tried your hand at any of the three strategies above? Share your experience in the Comments section below!